Principal Financial Group Inc. Purchases 2,847 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Principal Financial Group Inc. boosted its position in Sinclair, Inc. (NASDAQ:SBGI) by 14.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,248 shares of the company’s stock after purchasing an additional 2,847 shares during the quarter. Principal Financial Group Inc.’s holdings in Sinclair were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SBGI. Gamco Investors INC. ET AL lifted its holdings in shares of Sinclair by 2.4% during the first quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company’s stock worth $48,374,000 after buying an additional 85,070 shares in the last quarter. Capital Management Corp VA raised its stake in Sinclair by 36.7% in the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock worth $27,031,000 after purchasing an additional 538,740 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sinclair by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock valued at $24,626,000 after purchasing an additional 78,793 shares during the period. Gabelli Funds LLC boosted its holdings in Sinclair by 1.0% in the 1st quarter. Gabelli Funds LLC now owns 1,188,000 shares of the company’s stock valued at $16,002,000 after purchasing an additional 11,200 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Sinclair by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 648,481 shares of the company’s stock worth $8,450,000 after purchasing an additional 13,874 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

Sinclair Stock Up 6.2 %

NASDAQ SBGI opened at $13.80 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93. The company has a market cap of $915.77 million, a price-to-earnings ratio of -1.94, a PEG ratio of 0.10 and a beta of 1.54. The company has a 50 day moving average of $13.88 and a 200-day moving average of $13.22. Sinclair, Inc. has a 1-year low of $9.39 and a 1-year high of $17.58.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.40. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $836.65 million. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned ($1.09) EPS. On average, equities research analysts expect that Sinclair, Inc. will post 4.57 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 30th. This represents a $1.00 annualized dividend and a yield of 7.25%. Sinclair’s dividend payout ratio is -14.04%.

About Sinclair

Sinclair, Inc, a media company, provides content on local television stations and digital platforms in the United States. It operates through two segments, Local Media and Tennis. The Local Media segment operates broadcast television stations, original networks, and content; provides free-over-the-air programming and live local sporting events on its stations; distributes its content to multi-channel video programming distributors in exchange for contractual fees; and produces local and original news programs.